Mohawk Q2 adjusted EPS $4.41, revenue $3.2B (+6.7%); Q3 guidance $3.33-$3.43

MOHAWK INDUSTRIES INC

2022-Q2 EPS reported $8.17 revenue$6,168,851,000

Net sales $3.2B up 6.7% as reported; net earnings $280M, diluted EPS $4.40; adjusted EPS $4.41.
Q3 adjusted EPS guidance $3.33-$3.43, below Q2 actual; company cites inflation, rising rates, softer demand.
Flooring North America segment sales $1.1B (+1.7%); operating margin 9.1% impacted by inflation and lower volumes.
Announced ~$440M in acquisitions including Vitromex (Mexico ceramic) and completed Foss Floors (US needle punch).
Restructuring plan to save $35-40M annually, cash cost $15-20M, total estimated cost $90-95M.

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